Q2 2018 EPS Estimates for Lennar Co. Reduced by Wedbush (LEN)
Lennar Co. (NYSE:LEN) – Equities research analysts at Wedbush cut their Q2 2018 earnings per share estimates for shares of Lennar in a report released on Wednesday. Wedbush analyst J. Mccanless now anticipates that the construction company will earn $1.15 per share for the quarter, down from their prior estimate of $1.21. Wedbush has a “Hold” rating and a $60.00 price target on the stock. Wedbush also issued estimates for Lennar’s Q4 2018 earnings at $1.84 EPS and FY2018 earnings at $5.38 EPS.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a return on equity of 12.22% and a net margin of 6.41%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 EPS.
Lennar (NYSE LEN) traded down $0.48 during midday trading on Monday, hitting $68.78. 3,338,700 shares of the company’s stock were exchanged, compared to its average volume of 4,927,330. The stock has a market capitalization of $16,310.00, a PE ratio of 19.82, a P/E/G ratio of 1.05 and a beta of 1.35. Lennar has a fifty-two week low of $43.46 and a fifty-two week high of $70.40. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72.
A number of hedge funds have recently added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company grew its position in Lennar by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock valued at $400,771,000 after buying an additional 386,110 shares during the period. Capital Growth Management LP grew its position in shares of Lennar by 28.2% in the third quarter. Capital Growth Management LP now owns 1,090,000 shares of the construction company’s stock valued at $57,552,000 after purchasing an additional 240,000 shares during the period. Janus Henderson Group PLC grew its position in shares of Lennar by 268.3% in the third quarter. Janus Henderson Group PLC now owns 162,638 shares of the construction company’s stock valued at $8,587,000 after purchasing an additional 118,482 shares during the period. Stevens Capital Management LP grew its position in shares of Lennar by 374.1% in the second quarter. Stevens Capital Management LP now owns 114,099 shares of the construction company’s stock valued at $6,084,000 after purchasing an additional 90,035 shares during the period. Finally, Patriot Wealth Management Inc. acquired a new stake in shares of Lennar in the fourth quarter valued at about $5,563,000. Institutional investors own 81.25% of the company’s stock.
In related news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 371,043 shares in the company, valued at $22,262,580. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Mark Sustana sold 125,000 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the sale, the general counsel now owns 65,720 shares in the company, valued at approximately $4,570,826. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,000 shares of company stock worth $10,621,300. 12.18% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 26th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, January 25th. This represents a $0.16 annualized dividend and a yield of 0.23%. Lennar’s dividend payout ratio is presently 4.61%.
Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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